Zayo has executed a definitive agreement to purchase Litecast, a provider of metro Bandwidth Infrastructure services in Baltimore, Maryland, for a price of $22 million.
Litecast owns and operates the leading Baltimore metropolitan fiber network, connecting over 110 on-net buildings, including all of the city's major data centers and carrier hotel facilities. Litecast is focused on providing dark fiber and Ethernet-based services to a concentrated set of Baltimore enterprise and governmental customers, particularly within the healthcare and education segments.
With Litecast's concentrated network geography, focused product set and size, Zayo anticipates a quick network and operations integration. The acquisition will further enhance Zayo's fiber network in the greater Baltimore-Washington metropolitan area, complementing the recently acquired AboveNet and FiberGate networks in the Washington, D.C. and Northern Virginia area. The transaction, subject to customary approvals, is expected to close by year-end and will be funded with cash on hand.
For more information on Zayo, visit www.zayo.com.
